Canada Osteoarthritis Therapeutics Market to be Dominated by Knee Osteoarthritis Through 2028.

According to TechSci Research report, “Canada Osteoarthritis Therapeutics Market - By Region, Competition, Forecast, and Opportunities, 2028F”, Canada osteoarthritis therapeutics market is anticipated to grow at an impressive rate in the forecast period 2024-2028. This can be ascribed to the increase in prevalence of osteoarthritis, advancements in R&D activities for drug development, and increase in funding from private & government organizations for development of healthcare sector and research centers, Similarly, rise in demand for cell-based research activities across the region is expected to create a lucrative growth of the Canada osteoarthritis therapeutics market during the forecast period. Additionally, rise in the number of approvals for drug is expected to create lucrative opportunities for the Canada osteoarthritis therapeutics market growth in the coming years. Besides, technological advancements in osteoarthritis and availability of better treatment options propel the growth of the Canada osteoarthritis therapeutics market. Additionally, growing demand for non-invasive surgeries and usage of regenerative therapies such as platelet rich plasma therapy will further drive the growth of the Canada osteoarthritis therapeutics market during the forecast period. Also, the growing demand for imaging technology for the diagnosis and treatment of osteoarthritis will propel the growth of Canada osteoarthritis therapeutics market over the years. Growing adoption of advanced medical technologies and existence of major regional players are expected to propel the growth of Canada osteoarthritis therapeutics market over the years.

However, some of the newer and more innovative treatments for OA can be expensive which can create affordability issues, thereby slowing down the growth of Canada Osteoarthritis Therapeutics market in the forecast period. Similarly, public health insurance programs in Canada may not cover all treatment options for OA, including some of the newer therapies, which may hamper the Canada Osteoarthritis Therapeutics market growth during the forecast period. Also, the lack of personalized treatment options can further restrict the growth of Canada Osteoarthritis Therapeutics Market. The availability of generic versions of some of the most widely used drugs for OA, has led to increased competition and lower prices. However, the use of generic drugs can also limit the development of newer and more innovative therapies.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Canada Osteoarthritis Therapeutics Market.”

The Canada Osteoarthritis Therapeutics market can be segmented by Anatomy, by Drug Type, by Distribution Channel and by Region.

Based on anatomy, the Canada Osteoarthritis Therapeutics market can be segmented into Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, and Small Joint Osteoarthritis. The Knee Osteoarthritis segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to increasing demand for pharmacological therapies such as nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and hyaluronic acid injections, as well as non-pharmacological therapies such as physical therapy, exercise, and weight loss across the region.

Based on distribution channel, the market can be segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The Hospital Pharmacies segment is expected to dominate during the forecast period on account of the high volume of patients visiting hospitals for osteoarthritis treatments and the wide range of osteoarthritis therapeutics available in these pharmacies. The wide use of nonsteroidal anti-inflammatory drugs (NSAIDs) is anticipated to boost the growth of the Canada osteoarthritis therapeutics market during the forecast period.

Major companies operating in Canada Osteoarthritis Therapeutics market are:

·         Abbott Canada.

·         AstraZeneca Canada Inc.

·         Novartis Pharmaceuticals Canada Inc.

·         Sanofi-Aventis Canada Inc.

·         Boehringer Ingelheim (Canada) Ltd.

·         Teva Canada Ltd.

·         GlaxoSmithKline Inc/Canada.

·         Apotex Inc.

In August 2022, Novartis obtained approval from the US FDA for LNA043 for treating knee osteoarthritis and is being developed as a first in class disease modifying treatment for osteoarthritis.

In September 2021, Duexis which is a combination of ibuprofen and famotidine, is utilized for pain relieving and inflammation associated with rheumatoid arthritis and osteoarthritis.  Lupin Limited launched a generic Duexis in the US to expand the availability of treatment options.

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“The Canada region is expected to dominate in the Canada Osteoarthritis Therapeutics market on account of the availability of funds for research, a large patient population, rising healthcare expenditures, a well-developed healthcare sector, and government support for research and development in the region. Furthermore, availability of better treatment alternatives and the introduction of new therapies are further contributing to the demand for Canada osteoarthritis therapeutics market. Besides, increasing adoption of new drugs and therapies, increased prevalence of osteoarthritis, aging population, and rising obesity rates in the region are further expected to create lucrative opportunities for the Canada osteoarthritis therapeutics market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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